Investment objective & strategy
As of Jan. 27, 2026 · prospectusObjective. The Touchstone Ultra Short Duration Fixed Income Fund (the Fund) seeks maximum total return consistent with the preservation of capital.
Strategy. The Fund invests, under normal market conditions, at least 80% of its assets in fixed-income securities. This is a non-fundamental investment policy that can be changed by the Fund upon 60 days prior notice to shareholders. The Fund invests in a diversified portfolio of securities of different maturities including U.S. Treasury securities, U.S. government agency securities, securities of U.S. government-sponsored enterprises, corporate bonds (including those of foreign issuers), mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, municipal bonds, collateralized loan obligations and cash equivalent securities including repurchase agreements, commercial paper and variable rate demand notes. The Fund invests only in investment-grade debt securities. Investment-grade debt securities are those having a rating of BBB-/Baa3 or higher from a Nationally Recognized Statistical Rating … The Fund invests, under normal market conditions, at least 80% of its assets in fixed-income securities. This is a non-fundamental investment policy that can be changed by the Fund upon 60 days prior notice to shareholders. The Fund invests in a diversified portfolio of securities of different maturities including U.S. Treasury securities, U.S. government agency securities, securities of U.S. government-sponsored enterprises, corporate bonds (including those of foreign issuers), mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, municipal bonds, collateralized loan obligations and cash equivalent securities including repurchase agreements, commercial paper and variable rate demand notes. The Fund invests only in investment-grade debt securities. Investment-grade debt securities are those having a rating of BBB-/Baa3 or higher from a Nationally Recognized Statistical Rating Organization (NRSRO) or, if a rating is not available, deemed to be of comparable quality by the sub-adviser, Fort Washington Investment Advisors, Inc. (Fort Washington). The Funds investment policies are based on credit ratings at the time of purchase. In selecting investments for the Fund, Fort Washington chooses fixed-income securities that it believes are attractively priced relative to the market or to similar instruments. In addition, Fort Washington considers the effective duration of the Funds entire portfolio. Effective duration is a measure of a securitys price volatility or the risk associated with changes in interest rates. While the Fund may invest in securities with any maturity or duration, Fort Washington seeks to maintain an effective duration for the Fund of one year or less under normal market conditions. The Fund may engage in frequent and active trading of securities as a part of its principal investment strategy.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SDART 2025-4 A3 | — | $19.22M | 1.89% |
| BERRY GLOBAL INC | — | $16.72M | 1.65% |
| US TREASURY N/B | — | $15.74M | 1.55% |
| TOTAL SYSTEM SVC | — | $15.53M | 1.53% |
| HCA INC | — | $14.66M | 1.44% |
| MSC 2017-H1 AS | MSC | $14.05M | 1.38% |
| J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-NINE, Class A | JPMCC | $13.87M | 1.37% |
| VEGAS Trust, Series 2024-TI, Class A | VEGAS | $13.36M | 1.32% |
| ONEMAIN FINL ISSUANCE TR 2019-2 3.14% 10/14/2036 144A | OMFIT | $13.24M | 1.30% |
| Ametek, Inc. 0% CP 01/04/2026 | — | $13.00M | 1.28% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Touchstone ETF Trust-Touchstone Ultra Short Income ETF · TUSI | 63% | 0.25% |
| CrossingBridge Ultra-Short Duration Fund · CBUDX | 5% | 0.92% |
| Baird Ultra Short Bond Fund · BUBIX, BUBSX | 5% | 0.15% |
Footnotes
- Expense ratio as of January 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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